Retirees

Information for current and soon-to-be retirees

If you have any questions about retiree benefits, please feel free to contact the
Benefits Office at 330-263-2526.

Glossary of Insurance Terms (.pdf) This page shows examples and may differ from the College’s actual deductible, co-pay,
or co-insurance amount.

Health Plan

Staff members hired on or after March 1, 1994, are not eligible for a continuation
of health coverage. Health coverage may only be continued if the employee’s date
of hire was before March 1, 1994, and the employee is age 60 or older, and has been
employed for at least 10 years, or if the employee retires at an earlier age as a
result of disability or participation in an early retirement program and has been
employed for not less than ten years immediately preceding the disability or approved
early retirement.

Eligible retirees over age 60, but under age 65 and not eligible for Medicare, may
continue the plan in which they were enrolled as an active employee. The College will
pay 50% of the College’s base policy premium toward the selected plan – to a maximum
of $1,500 annually. A retiree age 65 and over may enroll in the College’s Medicare
carve-out plan and the College will pay 50% of the premium – to $1,500 annually. A
retiree may carry his/her spouse on the same plan (determined by age and Medicare
eligibility) with the retiree paying 100% of the spouse’s premium. The spouse may
continue the same plan if the retired staff member dies first.

Current rates for retirees (effective January 1, 2018), are as follows:

Retiree 65 and over - $257.84 per month

Retiree Spouse 65 and over - $455.40 per month

Retiree Under 65 - $563.44 per month

Retiree Spouse Under 65 - $739.98 per month

Retirees should contact the Benefits Office at least 30 days prior to retiring if
continuing enrollment in the health benefit. Otherwise, the health benefit will cease
on the date of retirement. If enrollment in the Health Plan is declined at the time
of retirement, a retiree will not be eligible to enroll at a later date.

*The College bills retirees on a monthly basis for their share of the health insurance
premium. Payments of these bills should be made at the Business Office, with checks
made payable to The College of Wooster. Monthly withdraws from the retirees’ bank
account may also be set up through the Business Office.

Dental Coverage for Retirees

If enrolled in The College’s dental plan, coverage ceases on the last day of the month
in which the retirement occurs. Retirees and spouses enrolled in the retiree health
plan are each eligible for reimbursement up to $100 for one annual routine dental
exam and/or cleaning. A claim form or itemized bill for these services should be submitted
to the Benefits Office.

Vision Coverage for Retirees

If enrolled The College’s Vision Plan, coverage ceases on the last day of the month
in which the retirement occurs. Retirees and spouses enrolled in the retiree health
plan are each eligible for 100% reimbursement after a $20 copay for one annual routine
eye exam. A claim form or itemized bill for these services should be submitted to
the Benefits Office.

Express ScriptsFor mail ordering of prescription drugs or to see what you have paid for drugs at
any pharmacy. You can also price drugs at retail pharmacies versus mail-order which
depends on 30-day or 90-day supply)

myCignaUse this link to log into myCigna for more detailed information about your medical
benefits. Search for doctors and hospitals for in-network services and estimated costs
for services.) You may also contact Cigna’s customer service line at: Toll-Free Number:
1-800-244-6224 (available 24 hours per day/365 days per year)

CignaGeneral information about Cigna and what they offer regarding Health/Medical benefits.

Social Security

TIAA Retirement

Personal and College contributions, if applicable, will cease at retirement. All
future retirees should meet individually with a TIAA representative to discuss options
for retirement income. You can schedule a TIAA meeting online or by calling 1-800-732-8353.

Life Insurance

Retirees eligible for life insurance during employment will continue to receive a
life insurance benefit provided the employee retires no earlier than 60 years of age
and has been employed for at least 10 years. The amount of life insurance will be
25% of the amount in force as an active employee but will not exceed $10,000. The
College assumes the full cost of the coverage. A conversion option for the amount
that has been reduced is available through the insurance company. Retirees interested
in converting the amount that has been reduced to an individual life insurance policy
should contact the Benefits Office.